Debt Settlement a Solution!

The consumer needed a way out of their current financial situation. The average consumer does not want to totally walk away from their obligations but just needs a method by which to handle their situation. In some cases, the loss of a job will be corrected and the consumer will be able to get back on track. It is during this time, that the consumer is seeking some type of financial relief from their lenders.

One of the ways to get relief is to use a debt settlement program. This program is not an easy fix or an overnight miracle for the consumer, this program can take between 12 to 48 months depending on the size of your debt. Basically the debt settlement program works with the consumer to establish a payment plan by which monies are placed monthly into a “trust/escrow account.” When a less half of the monies owed to a lender on your lowest balance credit card, then the debt settlement expert will begin to negotiate on the consumer’s behalf. The monthly payments into the account are normally much less than the current minimum monthly credit card payments. The debt settlement company is usually able to negotiate a 40 to 50 percent reduction of the consumer’s debt.